Downgrade to junk status inevitable: Economist
All eyes will be on another credit ratings agency as it is expected to announce whether it will downgrade South Africa today.
An economist says he feels we're unlikely to escape a demotion when Standard & Poors makes its decision known.
Last week, Moody's left South Africa's credit rating unchanged while Fitch dropped its outlook for the country from stable to negative.
Economist, Mike Schussler believes our luck has run out and that a downgrade to junk status is inevitable.
"I think it's all about economic growth and the sort of debt levels that we can afford. With South Africans generally getting poorer this year again because our growth is no where close to our population growth. One of the factors have been negative for three years now is our per capita growth rate and if that doesn't turn around soon, I feel that we are more likely to be downgraded," he said.